Learning to save money is, of course, a valuable life skill to have, yet it's not powerful enough on its own — not by a long shot.
We need to invest. This isn't someone else's responsibility; it's ours. There are myriad excuses not to invest, none of which hold water. See if any of the following reasons have popped into your mind — and I'll add a rebuttal to each.
I don't have enough to invest
Pick a very modest goal to start, say $50 a month (or less if you can't afford that), which is $1.67 a day. Many plans will take very small amounts of money with no additional fees for doing so.
I'm so young, there is plenty of time later
Saving for investment is a practice, a habit, you'll need for the rest of your life; it's really not a choice. When you start saving, you can start investing right away — that's where the real wealth-building difference is made. Over time, investing builds wealth.
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Albert Einstein reportedly called compounding "the most powerful force in the universe." Compounding means making money on the money you are investing. It's a beautiful thing.
"This is the youngest you'll ever be for the rest of your life — and you may live a lot longer than you think — so it's never too late to start." -Karen Finerman, CEO & co-founder, Metropolitan Capital Advisors I'll start when I make more
That's like saying, "when I am in good shape, I'll start to exercise." Start investing now. Develop that muscle and you'll want to keep flexing it. When you do start to earn more, you can add bigger chunks to your investments.